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the thing i'm su of is that we g to end up with at least $4 trillion of deficit reduction. some of that's got to come from revenues. i guarantee you the white house isn't going to do a deal unless it has an increase in tax rates for part of that revenue. i'm assuming that the republicans are going to insist that there be more cuts on the health care entitlements than what's been put on the table to date. >> ifill: here's the difference between what we're seeing now and what happens when i put my house on the market. at the end of this year there will be consequences. it's unclear... in the past when these consequences or these deadlines have arisen they've just put them off. that's how we got to where we are today. are you confident, as confident that they will actually come up with a permanent solution before this deadline or that they'll just... >> we can't kick it down the road. that would be disaster. look, this is is the magic moment. we have a second-term democrat president who has put entitlements on the table with special physicianitey. we have a republican speaker
the thing i'm su of is that we g to end up with at least $4 trillion of deficit reduction. some of that's got to come from revenues. i guarantee you the white house isn't going to do a deal unless it has an increase in tax rates for part of that revenue. i'm assuming that the republicans are going to insist that there be more cuts on the health care entitlements than what's been put on the table to date. >> ifill: here's the difference between what we're seeing now and what happens when i...
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Nov 29, 2012
11/12
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minority leader mitch mcconnell criticized democrats for putting social security off limits in any deficit deal. >> as for social security, the only thing we hear from why in the world wouldn't they want to talk about the fact that this vital program started spending out more than it took in 2010, for the first time in nearly 30 years and that its trustees now estimate that it will keep spending more than it takes it in for 75 years unless we strengthen it. >> brown: majority whip dick durbin answered that social security isn't the issue; it's medicare and medicaid. >> social security does not add one penny to the deficit. it's an important program, a critical program. let's take care of it in the future. let's do it separate from the debt debate. medicare is another story. medicare has 12 years of life left and let me make a point of saying it has eight of those years because of president obama's leadership. >> brown: white house officials said the president will send treasury secretary timothy geithner and legislative chief rob nabors to the capitol tomorrow, to meet with congressional l
minority leader mitch mcconnell criticized democrats for putting social security off limits in any deficit deal. >> as for social security, the only thing we hear from why in the world wouldn't they want to talk about the fact that this vital program started spending out more than it took in 2010, for the first time in nearly 30 years and that its trustees now estimate that it will keep spending more than it takes it in for 75 years unless we strengthen it. >> brown: majority whip...
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Dec 3, 2012
12/12
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his own deficit reduction commission. he knows what our proposals are, he knows what we are throwing do. what we don't know, chris, is what is the president willing to do? >> well, let me ask you specifically about that. is it true, because it's been said but we've never seen a piece of paper; it true that the president offered to raise the eligibility age for medicare and to slow cost of living adjustments for social security what you were in your debt talks in august ofs2011. >> it was on the table. did the president agree to it? it may have been close to an agreement to it. if he agreed to it we might not have some problem today. >> is that on the table now. of course, it's on the table. >> no, is it on the table from their point of view. >> well, there are a lot of items on the table. the president knows what they are. the question is what are they willing to do. >> you are starting it have some political problems because you are starting to have some split necessary your ranks. i don't have to tell you one of the top
his own deficit reduction commission. he knows what our proposals are, he knows what we are throwing do. what we don't know, chris, is what is the president willing to do? >> well, let me ask you specifically about that. is it true, because it's been said but we've never seen a piece of paper; it true that the president offered to raise the eligibility age for medicare and to slow cost of living adjustments for social security what you were in your debt talks in august ofs2011. >>...
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Nov 29, 2012
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the spending deductions have not reduced our deficit. we still have, the president still has $1 trillion plus deficit if this next fiscal year. he had it for the past four and he has it for the next four if he follows the same course. that is not a road to prosperity or job creation. or economic vitality. >>neil: i want to be clear, congressman. republicans do not appear to be on the same page on this, as republicans, are you saying your view, hiking the rates or adjusting in any way is felt universally by your colleagues? we know a couple of them have bolted from that but you are going to hold in lock step on that position? >>guest: there is a universality in our conference with 240 of us in the house of representatives so there are 240 different opinions but by and large the majority of us firmly believe raising tax rates is counterproductive and doesn't solve the problem. >>neil: always a pleasure, sir, thank you. take the money and run? not quite but quite a run of companies hiking dividends. and disney is the latest and it will prob
the spending deductions have not reduced our deficit. we still have, the president still has $1 trillion plus deficit if this next fiscal year. he had it for the past four and he has it for the next four if he follows the same course. that is not a road to prosperity or job creation. or economic vitality. >>neil: i want to be clear, congressman. republicans do not appear to be on the same page on this, as republicans, are you saying your view, hiking the rates or adjusting in any way is...
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Dec 3, 2012
12/12
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. >> that is erskine bowles, who along with alan simpson shared the deficit reduction commission a couple of years ago. they are both in town trying to pound a sense at into elected leaders. evan thomas has been out of town promoting his book, "ike's bluff." terrific christmas present. >> thank you. >> as i recall, we were having the same composition we are having now. >> like groundhog day. talk about bluffing -- they will be complete unreasonable until the last second where they agreed. while they are bluffing, we could go over the cliff. >> where are we headed, mark? >> one side says that raising tax rates is an example, the other side says we will not balance the budget on the backs of students and seniors without asking those who make as much as i do not to pay another diamond. we are in the chest thumping a stage of this negotiation. we are interested in the product rather than the process. the process does the fact of the product and you don't want hostilities to make the final product unreachable. >> nina, there were a bunch of c.l.'s in town saying please do something so we can p
. >> that is erskine bowles, who along with alan simpson shared the deficit reduction commission a couple of years ago. they are both in town trying to pound a sense at into elected leaders. evan thomas has been out of town promoting his book, "ike's bluff." terrific christmas present. >> thank you. >> as i recall, we were having the same composition we are having now. >> like groundhog day. talk about bluffing -- they will be complete unreasonable until the...
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Nov 29, 2012
11/12
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this will not make a dent in the deficit. here to disagree with me is christian dorsey from the economic policy institute. christian, thank you so much for coming back to the show. you are always a spirited debate partner. tell me why you like this. >> i'll tell you, melissa, to me this is not so much about the revenue that it would raise but about the message and principle it stand for, that we can't in this country have a situation where people are making millions of dollars effectively paying lower tax rates than america's middle class families. the principle of this, of this rule is actually what's most important. the revenue that it raises, it is important because it is not chump change but it is not in of itself going to change our deficit conversation but the principle is one that is extremely important. liz: but you're talking about wealthier people. well thinker people pay a higher average tax rate. everybody pulls out the stat that they want to look at. if you look at average tax rate of the top 1%, it is 23%, almos
this will not make a dent in the deficit. here to disagree with me is christian dorsey from the economic policy institute. christian, thank you so much for coming back to the show. you are always a spirited debate partner. tell me why you like this. >> i'll tell you, melissa, to me this is not so much about the revenue that it would raise but about the message and principle it stand for, that we can't in this country have a situation where people are making millions of dollars effectively...
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Nov 30, 2012
11/12
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warren rudman went on to found the coalition that pushed for reducing the deficit. senator rudman died this month at the age of 82. >>> and former president george h.w. bush in a hospital treated for bronchitis, he is listed in stable condition and expected to be released within 72 hours. his doctors described him as pretty much as normal, happy, joking with the staff and getting better. >>> up next as nightly news continues. the guessing game over who won that giant powerball, and what some people have noticed about the winning numbers and the pattern they follow. >>> and later, the random act of kindness caught on camera that is getting a lot of attention for all the right reasons. t powerball, you may be curious about who did, there are two big winning tickets and the second largest jackpot in american history, in missouri and arizona, more from dearborn, missouri, where one of the tickets was sold. kerry, also very curious about this secret code imbedded in one of the winning numbers >> reporter: very interesting, one ticket was sold here at this gas station,he
warren rudman went on to found the coalition that pushed for reducing the deficit. senator rudman died this month at the age of 82. >>> and former president george h.w. bush in a hospital treated for bronchitis, he is listed in stable condition and expected to be released within 72 hours. his doctors described him as pretty much as normal, happy, joking with the staff and getting better. >>> up next as nightly news continues. the guessing game over who won that giant...
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Nov 30, 2012
11/12
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the government was able to sink its annual deficit from 32% to 8.5% of gdp, and it is paying much lower interest on government bonds, and the irish economy is growing. only unemployment remains stubbornly high. in october, the jobless rate was still above the eurozone average at 14.7%, but in countries hard hit by the euro crisis, there were even more people out of work, and an increase, and employment is one of 25%. in spain, 26% were one in two young people is out of work. things are not quite that grim in italy, but more and more young people are looking for work. the youth unemployment rate is 36%, the highest since june 2004. >> we have to take a short break, but when we come back, december 1 is world aids day. we will be taking a look at the problem of hiv/aids. >> and what is germany going to do with all its nuclear waste? stay with us for that. >> thanks for staying with us. >> welcome back. one of the consequences of the breakdown of public services in the wake of the economic crisis in greece is a sharp spike up people they're infected with aids. >> on the eve of world aids da
the government was able to sink its annual deficit from 32% to 8.5% of gdp, and it is paying much lower interest on government bonds, and the irish economy is growing. only unemployment remains stubbornly high. in october, the jobless rate was still above the eurozone average at 14.7%, but in countries hard hit by the euro crisis, there were even more people out of work, and an increase, and employment is one of 25%. in spain, 26% were one in two young people is out of work. things are not...
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Nov 30, 2012
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they're not about to do anything that helps with the deficit. they want higher taxes to spend even more money to put even more power in washington, d.c. to have an even bigger bureaucracy. >> greta: all right. let me tell you one other thing that i thought was surprising today. secretary of treasury tim geithner proposed limiting purview over the federal borrowing limit, which is another way of saying give the president, any future president, give the president without a limit, without conceive sight. is that how you see that? >> sure. if you were a liberal, you wanted to run up the biggest possible deficit. frankly the congress ought to move in the opposite direction and start hearings of oversight on the federal reserve, which has put far more money into the economy than the treasury has, and which has yielded far more economic power the treasury. the amount of power that ben bernanke has chairman of the federal reserve is totally inappropriate in a free society. again, i would have the house republicans organize virtually every committee and
they're not about to do anything that helps with the deficit. they want higher taxes to spend even more money to put even more power in washington, d.c. to have an even bigger bureaucracy. >> greta: all right. let me tell you one other thing that i thought was surprising today. secretary of treasury tim geithner proposed limiting purview over the federal borrowing limit, which is another way of saying give the president, any future president, give the president without a limit, without...
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Nov 29, 2012
11/12
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it doesn't add to the deficit. in fact, it needs to be -- if any change needs to be made to it, it needs to be on the own freestanding. social security is one of the greatest programs this country has ever produced. it helps literally millions and millions of senior citizens and people on disability and people who receive survivor benefits and it's a great program and we should continue to support that program. we don't need to mess with it. when we do want to reform it, it needs to be something that will preserve benefits for people. and allows the program to continue. it's a solid program and it doesn't need to be in these budget entanglements. i hope americans really get the fact -- some people say, well, ok, you're right social security doesn't add to the deficit. let's talk about it anyway. let's talk about it for a minute anyway even though it shouldn't be considered. here's what could be said, mr. speaker, by someone who wants to defend the excellent program known as social security. they might say shouldn't
it doesn't add to the deficit. in fact, it needs to be -- if any change needs to be made to it, it needs to be on the own freestanding. social security is one of the greatest programs this country has ever produced. it helps literally millions and millions of senior citizens and people on disability and people who receive survivor benefits and it's a great program and we should continue to support that program. we don't need to mess with it. when we do want to reform it, it needs to be...
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Nov 30, 2012
11/12
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you can't -- >> we've had 18 debt and deficit commissions since '81. the cuts never came. >> cynicism isn't a plan though, eric. we need to put forward a plan. can't just keep saying they're screwing it up. >> if you don't put cuts in though with tax increase, you've got a problem because it's easy to raise taxes on a few people. most people will not support cuts that hurt them. >> you've got to have entitlement reform. >> you can actually lower rates, close loopholes and raise revenue. >> all right. thanks to both. appreciate it. more than two months after the deadly attack in benghazi, investigators are still looking for answers and today, the fbi turned to facebook for help and a possible turning point in syria. the obama administration tonight weighing whether to take a big step and involve arming the rebels. meet the 5-passenger ford c-max hybrid. when you're carrying a lot of weight, c-max has a nice little trait, you see, c-max helps you load your freight, with its foot-activated lift gate. but that's not all you'll see, cause c-max also beats p
you can't -- >> we've had 18 debt and deficit commissions since '81. the cuts never came. >> cynicism isn't a plan though, eric. we need to put forward a plan. can't just keep saying they're screwing it up. >> if you don't put cuts in though with tax increase, you've got a problem because it's easy to raise taxes on a few people. most people will not support cuts that hurt them. >> you've got to have entitlement reform. >> you can actually lower rates, close...
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volume since the dot com bubble burst low business investment low were record budget deficits from the government and high unemployment do we actually need a bubble not a case i would make but a very smart gentleman is here to tell us why they can sometimes be good joining me from our new york studio is dr william janeway he's senior advisor for warburg pincus technology and author of the book doing capitalism in the innovation economy markets speculation and the state first thank you so much for being on the show very good to be here we're going to have you because you have said and i would definitely agree that bubbles have received bad press whether we're talking about the two live bubble in the sixteen hundreds or whether we're talking about the real estate bubble ahead of two thousand and eight but in some instances you say bubbles can be good why can bubbles be good and what kind of a bubble would we need or might we need now well the first thing as you've said is the bubbles or boringly common where ever there is a active trading liquid market in the us from tulip bulbs to real
volume since the dot com bubble burst low business investment low were record budget deficits from the government and high unemployment do we actually need a bubble not a case i would make but a very smart gentleman is here to tell us why they can sometimes be good joining me from our new york studio is dr william janeway he's senior advisor for warburg pincus technology and author of the book doing capitalism in the innovation economy markets speculation and the state first thank you so much...
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Nov 30, 2012
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we have put down our down payment towards deficit reduction by saying that we believe that $1 trillion or so over the next decade of those tax cuts above and beyond a quarter of a million dollars can go to deficit reduction. our republican colleagues need to say specifically what they want to cut. when they say entitlements, entitlements is medicare and medicaid. what do you want to do about medicare and medicaid? put it on the table, let us know. let the american people know. then we can ultimately come to a conclusion and maybe have that celebration you're looking for, piers. >> senator menendez, good to talk to you. thank you very much. >> thank you. >>> when we come back, i talk to leaders on both sides of the palestinian debate. do they think today's vote threatens the peace process? aveeno has an oat formula, now proven to build a moisture reserve, so skin can replenish itself. that's healthy skin for life. only from aveeno. as part of a heart healthy diet. that's true. ...but you still have to go to the gym. ♪ the one and only, cheerios ...but you still have to go to the gym.
we have put down our down payment towards deficit reduction by saying that we believe that $1 trillion or so over the next decade of those tax cuts above and beyond a quarter of a million dollars can go to deficit reduction. our republican colleagues need to say specifically what they want to cut. when they say entitlements, entitlements is medicare and medicaid. what do you want to do about medicare and medicaid? put it on the table, let us know. let the american people know. then we can...
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Nov 30, 2012
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they're raising state and local taxes to solve their deficit problems. something to keep in mind when we talk about these detention caps. you could be pushed up against a deduction if you live in new york. if you live in new york and have high state and local taxes, if congress moves forward with a deduction cap, you could go right up to that cap. host: 24% of those were claiming the earned income tax credits. 13% climb in the child tax credit. these credits, you can use them simultaneously. guest: some of these are refundable which means you get money back even if your tax bill is zero. whenever the refundable not is -- whenever the refundable amount is, you get to take home. host: we will go to ray in atlanta, georgia. caller: how much will an individual or can an individual receives who has two children in a single-parent household? what is the maximum amount of money they receive back in the form of tax credits? once you look at that and if there at that dollar level, we're finding their children for free and reduced lunch and i assume adding some ad
they're raising state and local taxes to solve their deficit problems. something to keep in mind when we talk about these detention caps. you could be pushed up against a deduction if you live in new york. if you live in new york and have high state and local taxes, if congress moves forward with a deduction cap, you could go right up to that cap. host: 24% of those were claiming the earned income tax credits. 13% climb in the child tax credit. these credits, you can use them simultaneously....
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here's the big picture-- $4 trillion of deficit reduction over the next 10 years. it includes $1.6 trillion in higher taxes on households make manage more than $250,000. there's also $400 billion in cuts to entitlement programs, like medicaid and medicare, as well as others. there is also fresh new aending. $50 billion next year in stimulus spending, all for infrastructure. the white house calls this an opening bid. house republicans call it a rehash of old ideas and also object to the idea of a white house asking a permanent legislative remedy to raising the debt ceiling, all of it, the republicans say rather, is unacceptable. now much of this was conveyed in a 28-minute phone conversation yesterday between president obama and house speaker john boehner. both sides describe that conversation, scott, as direct and candid. those are words custom early reserved for diplomacy between sworn adversaries and tonight that might be where we are. >> pelley: major, thanks very much. now, have a look at these two pictures. president obama and mitt romney at the final debate,
here's the big picture-- $4 trillion of deficit reduction over the next 10 years. it includes $1.6 trillion in higher taxes on households make manage more than $250,000. there's also $400 billion in cuts to entitlement programs, like medicaid and medicare, as well as others. there is also fresh new aending. $50 billion next year in stimulus spending, all for infrastructure. the white house calls this an opening bid. house republicans call it a rehash of old ideas and also object to the idea of...
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Nov 30, 2012
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fourth quarter now, brees trying to cut into the deficit with two minutes left. he throws behind the receiver and moore is there again for another pick. five interceptions on the night for brees, the first time he's ever had five interceptions in a game. his nfl record streak of 54 consecutive games with a touchdown pass also came to an end in this one as the falcons win, 23-13. they can now clinch the division title this weekend if the bucs lose to the broncos. >>> to college football now. louisville facing rutgers for the big east championship and a bcs bowl berth. gary nova drops back and finds brandon coleman who gets past the cardinals' secondary and goes all the way down the line -- sideline untouched for an 85-yard touchdown to give the scarlet knights an early lead. rutgers up four in the third quarter. bridgewater gives the cardinals the lead with the beautiful pass to the back of the end zone. bridgewater leads his team to the 20-17 win despite playing with a broken wrist and a sprained ankle. good lord. cardinals are going to the second-ever bcs bowl g
fourth quarter now, brees trying to cut into the deficit with two minutes left. he throws behind the receiver and moore is there again for another pick. five interceptions on the night for brees, the first time he's ever had five interceptions in a game. his nfl record streak of 54 consecutive games with a touchdown pass also came to an end in this one as the falcons win, 23-13. they can now clinch the division title this weekend if the bucs lose to the broncos. >>> to college football...
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Nov 30, 2012
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we have put down our down payment towards deficit reduction by saying that we believe that $1 trillion or so over the next decade of those tax cuts above and beyond a quarter of a million dollars can go to deficit reduction. our republican colleagues need to say specifically what they want to cut. when they say entitlements, entitlements is medicare and medicaid. what do you want to do about medicare and medicaid? put it on the table, let us know. let the american people know. then we can ultimately come to a conclusion and maybe have that celebration you're looking for, piers. >> senator menendez, good to talk to you. thank you very much. >> thank you. >>> when we come back, i talk to leaders on both sides of the palestinian debate. do they think today's vote threatens the peace process? [ nurse ] i'm a hospice nurse. britta olsen is my patient. i spend long hours with her checking her heart rate, administering her medication, and just making her comfortable. one night britta told me about a tradition in denmark, "when a person dies," she said, "someone must open the window so the sou
we have put down our down payment towards deficit reduction by saying that we believe that $1 trillion or so over the next decade of those tax cuts above and beyond a quarter of a million dollars can go to deficit reduction. our republican colleagues need to say specifically what they want to cut. when they say entitlements, entitlements is medicare and medicaid. what do you want to do about medicare and medicaid? put it on the table, let us know. let the american people know. then we can...
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Nov 30, 2012
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it means emphasizing jobs and growth instead of deficit reduction. that's something that's going to make liberals in washington extremely happy and the whole package including this debt ceiling, getting rid of congress's authority over the debt ceiling is something -- it is just politically strong. it is going to make his voters feel emboldened. they're going to give them something to rally around instead of a discussion on numbers and how much are we going to give to entitlements. he said to his base and to his voters who just re-elected him by a reasonably handy margin, we've got something to fight for here. >> eliot: i don't want to go off on the conversation exclusively about the debt ceiling but he's right about saying to congress you pass the spending bills you pass the taxing bills therefore when we hit the debt ceiling, it is merely carrying out your own legislation. i shouldn't need to go back to you to fund the debt plus there is the constitutional argument. he's saying to john boehner i'm taking your leverage home with me. he's right about
it means emphasizing jobs and growth instead of deficit reduction. that's something that's going to make liberals in washington extremely happy and the whole package including this debt ceiling, getting rid of congress's authority over the debt ceiling is something -- it is just politically strong. it is going to make his voters feel emboldened. they're going to give them something to rally around instead of a discussion on numbers and how much are we going to give to entitlements. he said to...
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Nov 30, 2012
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that is how we will reduce the deficit by creating jobs. every time we came to the idea of bold balance, the rivet a question was the hurdle and it is still does. we cannot get there from here in terms of deficit reduction. you can grow your way he to there, but you have to have the revenue as a confidence-building that we are responsible. we will get the job done. he had ended their meeting to go to so he is not here with us now. why am i confident? it is the right thing to do. americans deserve this to happen. it is only the decision to make tough choices. this is not easy. it is necessary. i have confidence that my republican colleagues will see the light and pass a middle income tax cut so they can go from there. >> we want the whole package, of course. the easiest thing to send a message to the public that the middle income tax cuts will continue is to pass the bill. this is stage one. we would like to see a multi trillion dollar stage one with substantial cuts. we have already passed over one trillion dollars. the expiration of the hi
that is how we will reduce the deficit by creating jobs. every time we came to the idea of bold balance, the rivet a question was the hurdle and it is still does. we cannot get there from here in terms of deficit reduction. you can grow your way he to there, but you have to have the revenue as a confidence-building that we are responsible. we will get the job done. he had ended their meeting to go to so he is not here with us now. why am i confident? it is the right thing to do. americans...
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two summers ago, congress realized that if they couldn't compromise on a deficit and revenue plan, our economy would crash. turns out they couldn't compromise. so here's what they did. in order to force themselves to work together and compromise, they concocted a catastrophic penalty that would itself crash our economy. put it another way. if there was an asteroid headed towards the earth, we made it and fired it at ourselves. because otherwise we would never have done the hard work required to protect ourselves from asteroids. >> see, that's one way of looking at it. yes. >>> halle berry's thanksgiving day drama seems to be winding down. progress has been made regarding the holiday fistfight between hallry berry's ex-boyfriend, gabriel aubry, and her current fiance. in a statement, berry's lawyer said she and aubrey have reached an amicable agreement. berry had a restraining order put into effect after that fight to keep aubrey from seeing their 4-year-old daughter. >>> so lindsay lohan, she's done it again, arrested thursday for allegedly punching a woman in the face in a new york ci
two summers ago, congress realized that if they couldn't compromise on a deficit and revenue plan, our economy would crash. turns out they couldn't compromise. so here's what they did. in order to force themselves to work together and compromise, they concocted a catastrophic penalty that would itself crash our economy. put it another way. if there was an asteroid headed towards the earth, we made it and fired it at ourselves. because otherwise we would never have done the hard work required to...
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Nov 29, 2012
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rule out sensible spending cuts that must be part of any significant agreement that will reduce our deficit. >> the president has put forward in september of 2011 with his proposal to the so-called super committee and his budget of february of 2011 very specific spending cuts, including savings from health care entitlement programs. >> so one of the issues is, when you talk specifics and they become part of the public conversation, it's very easy for those things to get derailed in the time available where all the sides sort of clamber and attack some of the specifics. both parties have an interest in keeping some of this close to the vest. what we're hearing from senate democrats today is they believe that the election suggests that the public really wants those higher rates for the higher earners in terms of taxes. senator reid and other democrats don't want to talk about specific cuts or entitlement reforms publicly. everyone saying they don't want to negotiate from the podium. but everyone is aware it's the end of november. there isn't a lot of time left. and how quickly and how peacefu
rule out sensible spending cuts that must be part of any significant agreement that will reduce our deficit. >> the president has put forward in september of 2011 with his proposal to the so-called super committee and his budget of february of 2011 very specific spending cuts, including savings from health care entitlement programs. >> so one of the issues is, when you talk specifics and they become part of the public conversation, it's very easy for those things to get derailed in...
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this is largely part of, you know, his past budgets and past deficit reduction plans that he's talking about. so we've seen these sort of numbers and figures before from him. >> what about the talk of cutting the mortgage deductions. that's in the president's proposal, right? >> well, part of the mortgage tax deduction is through what the president is talking about, about capping itemized deductions for top income people. so he's not talking about cutting the mortgage interest deductions specifically. what he's saying is, if you're a wealthy person, making over a certain amount of money, you're not going to be able to take as many deductions as you had in the past, and so mortgage interest deduction is one of those things that would fall under that. >> do you think some of this is vague, though, nancy? because really neither side wants to own this. >> i think what we've seen this week is a lot of political posturing. the president basically put out an opening bid, which is something that we've seen before, and now what he's waiting for is saying, okay, republicans, you want to see some
this is largely part of, you know, his past budgets and past deficit reduction plans that he's talking about. so we've seen these sort of numbers and figures before from him. >> what about the talk of cutting the mortgage deductions. that's in the president's proposal, right? >> well, part of the mortgage tax deduction is through what the president is talking about, about capping itemized deductions for top income people. so he's not talking about cutting the mortgage interest...
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congress could slash your 401(k) savings to address the deficit. that means those 61 million hardworking americans with workplace retirement plans might not have comfortable, secure retireme retirements, after all. >> okay, that's scary. joining me, personal finance expert carmen wong ulrich. good to see you. >> good to see you. >> you look at that, and you think the sky is falling. would they really touch your 401(k), your i.r.a.? >> it sounds terrifying but i doubt this will happen. even though the top 20% of americans tend to utilize 80% of retirement savings, but the 401(k) is the middle-income way to save for retirement. and here's where they could hit you. for example, this is pre-tax money that you're saving, right? they could hit you there. this is money that you can actually grow tax free. they could hit you with that. but here's where it will hit retirees when it comes to raising taxes on income levels. in retirement when you may money out of your 401(k), it's taxed as income. i.r.a., this is where folks save outside post-tax money into r
congress could slash your 401(k) savings to address the deficit. that means those 61 million hardworking americans with workplace retirement plans might not have comfortable, secure retireme retirements, after all. >> okay, that's scary. joining me, personal finance expert carmen wong ulrich. good to see you. >> good to see you. >> you look at that, and you think the sky is falling. would they really touch your 401(k), your i.r.a.? >> it sounds terrifying but i doubt...
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Nov 29, 2012
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and that is, we must ask the wealthy to pay a little more so we can get these deficit eliminated. get our debt paid down and start growing the economy again. that's not unusual or new to any of us. nobody in the country. so i think the president is sticking to what he said throughout the campaign and as i said 3 million more people voted for him than voted for the other guy. >> with that said, on taxes, if there's any chance on your side, is there any chance on your side to come down to the form of a smaller tax hike on incomes above $250,000 or would you consider keeping rate it is same at $250,000 and raising them only on higher incomes, say half a million or $1 million a year? >> i think it's all part of the negotiations. we know where the president is and that is 250,000. but there are a lot of democrats who voiced back before the campaign 500,000, some say even a million. all of that is going to be negotiated. the president wants 250. if mr. boehner wants to come and offer something different, i'm sure he will do that. but the president stands at 250. which is below even wher
and that is, we must ask the wealthy to pay a little more so we can get these deficit eliminated. get our debt paid down and start growing the economy again. that's not unusual or new to any of us. nobody in the country. so i think the president is sticking to what he said throughout the campaign and as i said 3 million more people voted for him than voted for the other guy. >> with that said, on taxes, if there's any chance on your side, is there any chance on your side to come down to...
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Nov 30, 2012
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. $2.4 trillion were the bush tax cuts that resulted in this enormous deficit, because in the 199os, we had a $5.6 trillion surplus. what the president is trying to do is to give relief to working people, and as well provide revenue to continue to support the needs of this nation. such as mayor bloomberg, who's just come to washington and asked for an enormous amount of money, rightly so, to help those who've been victims of hurricane sandy. so the president is not in any way suggesting that he's not willing to negotiate. he asked the questions, when are the republicans going to be considerate of those who get up every day and work? or those who need medicare or social security and medicaid? that is what the bottom line is for the president and for democrats, to protect benefits in a reasonable manner, and to ensure that we have the revenue to bring down the deficit and to continue to operate in the needs of the american people. >> i'd like to talk about those entitlement programs because i know that this is very near and dear to your heart. the lion's share of the $400 billion in cu
. $2.4 trillion were the bush tax cuts that resulted in this enormous deficit, because in the 199os, we had a $5.6 trillion surplus. what the president is trying to do is to give relief to working people, and as well provide revenue to continue to support the needs of this nation. such as mayor bloomberg, who's just come to washington and asked for an enormous amount of money, rightly so, to help those who've been victims of hurricane sandy. so the president is not in any way suggesting that...
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Nov 29, 2012
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>> we had 18 debt an deficit commissions since ronald reagan became president in 1981. in more than half of those, medicaid, medicare an social security were supposed to be part of fixing the debt and deficit, it never happened. if they kick the can down the road again without fixing entitlements in the process, entitlements still won't get fixed. >> we asked you to comment on the news and then sometimes you make news. the news about you, it says you are considering running in a primary to challenge saxby chambliss. are you any closer to a season? tell me what you're thinking and who is encouraging you to do that. >> well, you know, i said all along, no i'm not going to do this. i've been dismissive. in the past couple days, a number more prominent names have been calling and saying shy do it. i feel i owe them more consideration. i'm not closer to thinking i will do it, but i'm thinking about it more. my wife is adamant if i do it, i will be buried in the backyard before i announce. i think saxby chambliss, it's time for him to be primaried. >> your wife will bury you
>> we had 18 debt an deficit commissions since ronald reagan became president in 1981. in more than half of those, medicaid, medicare an social security were supposed to be part of fixing the debt and deficit, it never happened. if they kick the can down the road again without fixing entitlements in the process, entitlements still won't get fixed. >> we asked you to comment on the news and then sometimes you make news. the news about you, it says you are considering running in a...
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Dec 2, 2012
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they, republicans will come around on the deficit, because of the economic you know, cliff that we're hanging over. i think they'll do that. i don't think there's any doubt that the republicans will cooperate on immigration reform. they've learned how important the hispanic vote is and african-american vote. >> having gotten politics out of the way, the carters promptly returned to building, a work ethic that created marie's 175-square-foot home and something jimmy and roselynn carter say they'll forever do and like most things, do together. richard lui, msnbc, haiti. >>> grover norquist, the man in the middle, may be hit be the sidelines. but what about grover norquist has made hundreds march in lockstep behind him all these years? we'll talk about it. ♪ i'd like to thank eating right, whole grain, multigrain cheerios! mom, are those my jeans? [ female announcer ] people who choose more whole grain tend to weigh less than those who don't. multigrain cheerios tend to weigh less than those who don't. is bigger than we think ... sometimelike the flu.fer from with aches, fever and chil
they, republicans will come around on the deficit, because of the economic you know, cliff that we're hanging over. i think they'll do that. i don't think there's any doubt that the republicans will cooperate on immigration reform. they've learned how important the hispanic vote is and african-american vote. >> having gotten politics out of the way, the carters promptly returned to building, a work ethic that created marie's 175-square-foot home and something jimmy and roselynn carter say...
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senate to pass important legislation, including the grand rudman deficit law. those issues remain important today. he did not aspire to be a politician. he did not have to like one. he cared deeply. we know he cared deeply about our country and devoted himself because he had a calling to shape and preserve our country's future. he believed deeply in the rule of law and used the force of his intellect to defend it. one of the things that is most telling about warren rudman is the statement that represents what he was all about. he once said -- i consider myself an american first and a republican second, fiercely independent, and totally committed to the common good. he had the carriage of his convictions and stood for what he believed in. in bidding farewell to to the senate in 1992, he expressed gratitude for the opportunity to serve in the senate which talented colleagues. many are here today to speak about their experiences with him. he expressed his hopes for the future of the senate, saying it is a special place with special people. i hope in the coming yea
senate to pass important legislation, including the grand rudman deficit law. those issues remain important today. he did not aspire to be a politician. he did not have to like one. he cared deeply. we know he cared deeply about our country and devoted himself because he had a calling to shape and preserve our country's future. he believed deeply in the rule of law and used the force of his intellect to defend it. one of the things that is most telling about warren rudman is the statement that...
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Dec 3, 2012
12/12
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bullying is a to the water at the time is by regulation as a sign was rows because deficits of 4916-13. the scene nearly avoided the second tied in three weeks. the raiders were just about as ugly as the bay area weather. this week empirically a rookie quarterback brandon wheat in through for a career 3 and 64 yds and touchdown. and the browns did just enough to set the 12th game road losing streak by beating the oakland 20-17. >> san francisco has become one of the few school districts to use this since the cost is higher than $9 million deal would still need school board approval which is scheduled for next week. >> the city of san jose says they're plastic bag then is a success. city officials say they have seen a dramatic drop in litter 0 around the city. san jose officials say their next goal is to eliminate polystyrene foam. they plan to present the city warmest to the city council in february to phase out foam boxes for large established starting in 2014 and small restaurants in 2015. >> the specific gun club may not be evicted after all the board of supervisors are expected to
bullying is a to the water at the time is by regulation as a sign was rows because deficits of 4916-13. the scene nearly avoided the second tied in three weeks. the raiders were just about as ugly as the bay area weather. this week empirically a rookie quarterback brandon wheat in through for a career 3 and 64 yds and touchdown. and the browns did just enough to set the 12th game road losing streak by beating the oakland 20-17. >> san francisco has become one of the few school districts...
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Dec 1, 2012
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in 2011 he and john boehner had a deficit deal on the table that a lot of democrats didn't like. right now he's gaining democratic support even more than at the campaign. this proposal democrats alike, there was a meeting on the hill about the proposal. democrats were delighted. you saw john boehner complaining about it. that's what the president wants because we're in the posturing stage in two weeks we'll be closer to actual where the real deal is stage. >> in your latest piece, dana, you write about how the gop if you have members that aren't following the party line they're getting purged. "when a lawmaker who has been part of house gop leadership floated a perfectly sensible notion this week the republicans should accept president obama's offer to extend tax cuts for the 98% of americans who earn less tha $250,000 a year, he was treated as if he'd been caught reading marx in the republican cloak room." >> this guy has a 92% conservative rating. they're now treating him like he's some sort of liberal just because he said don't hold 98% of americans hostage as some sort of neg
in 2011 he and john boehner had a deficit deal on the table that a lot of democrats didn't like. right now he's gaining democratic support even more than at the campaign. this proposal democrats alike, there was a meeting on the hill about the proposal. democrats were delighted. you saw john boehner complaining about it. that's what the president wants because we're in the posturing stage in two weeks we'll be closer to actual where the real deal is stage. >> in your latest piece, dana,...
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Nov 30, 2012
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and it's clear today that important first step rebuilding the trust deficit, closing the trust deficit, a long way to go. >> john king, thanks so much. good to see you. >>> a warning from the fda about one of the most prescribed drugs in the u.s. new details of a massive recall. i love the holidays. and with my bankamericard cash rewards credit card, i love 'em even more. i earn 1% cash back everywhere, every time. 2% on groceries. 3% on gas. automatically. no hoops to jump through. that's 1% back on... [ toy robot sounds ] 2% on pumpkin pie. and apple. 3% back on 4 trips to the airport. it's as easy as... -[ man ] 1... -[ woman ] 2... [ woman ] 3. [ male announcer ] the bankamericard cash rewards card. apply online or at a bank of america near you. [ male announcer ] the bankamericard cash rewards card. one is for a clean, wedomestic energy future that puts us in control. our abundant natural gas is already saving us money, producing cleaner electricity, putting us to work here in america and supporting wind and solar. though all energy development comes with some risk, we're committe
and it's clear today that important first step rebuilding the trust deficit, closing the trust deficit, a long way to go. >> john king, thanks so much. good to see you. >>> a warning from the fda about one of the most prescribed drugs in the u.s. new details of a massive recall. i love the holidays. and with my bankamericard cash rewards credit card, i love 'em even more. i earn 1% cash back everywhere, every time. 2% on groceries. 3% on gas. automatically. no hoops to jump...
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[inaudible conversations] >>> to find out more and watch event on deficit reduction we have created a special website you can watch video from capitol hill and white house and read the tweets. that's at c-span.org/fiscalcliff. ! new a few moments we'll hear about the u.n. vote of making palestine a nonmember observer state. from a state department spokesman and from british foreign secretary william hag in about ten minutes. and after that, we'll reair the hearing on amtrak's operations. several live events to telling you about tomorrow. from london they release the report on british media practices that including phone-hacking of people in the news. .. is $50,000. almost four to with the rest costs. and the vast majority of producers who use public schools. we could take the money we spend today, every public school system and save billions of dollars per year at the same or better outcomes. >> deputy secretary of state, bill burns' special envoy met with houston and president ,-com,-com ma mahmoud abbas in new york city to discuss thursday's vote in the united nations to elevate pal
[inaudible conversations] >>> to find out more and watch event on deficit reduction we have created a special website you can watch video from capitol hill and white house and read the tweets. that's at c-span.org/fiscalcliff. ! new a few moments we'll hear about the u.n. vote of making palestine a nonmember observer state. from a state department spokesman and from british foreign secretary william hag in about ten minutes. and after that, we'll reair the hearing on amtrak's...
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and doing stuff, fine let the cliff come. >> brian: but the deficit is not addressed and our defense will be gutted. you okay with that? >> i'm not okay with it. but i think the defense will just trim and get it done. listen, the guys who are in the military have operated that way for a long time. in other words they know somebody gives them something they know how to get a job done with less in many cases. they'll do it. >> brian: i don't think so. i think it will be a disas -- disaster and the military will be cut down. >> maybe the disaster would be maybe they don't understand it. now deal with it. >> brian: there is carnage until they come to the realization. thanks so much. >> thank you. >> brian: this morning you will hear from the cop who spent his hard earned cash to buy a homeless man a pair of boots and socks. and from the tourist who snapped this picture. then schools are failing. crime is rising. so why is rahm emanuel say his city is the perfect model for america? chicago? really? i love the holidays. and with my bankamericard cash rewards credit card, i love 'em even mo
and doing stuff, fine let the cliff come. >> brian: but the deficit is not addressed and our defense will be gutted. you okay with that? >> i'm not okay with it. but i think the defense will just trim and get it done. listen, the guys who are in the military have operated that way for a long time. in other words they know somebody gives them something they know how to get a job done with less in many cases. they'll do it. >> brian: i don't think so. i think it will be a disas...
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a real deficit reduction. 70% of the american people support that. they can't even come to terms with that. they seem to have not noticed the republicans that we did have an election. the president campaigned on this question of continuing tax cuts for the middle class but raising them back to the clinton rates -- returning to the clinton rates for the top 2%. he pledged that he would veto anything but that. and he will. so until the republicans agree to those clinton-era rates, we are going to go off the fiscal cliff. >> you know, it's interesting, ari, you'll remember this because you were the white house press secretary in 2001 and 2003 when those bush-era tax rates were approved basically by republicans, very few democrats voted to approve those bush-era tax cuts. so why not do what the republican congressman from oklahoma says, what paul just said, go ahead, declare victory. say, look, all these democrats are now on board, they support for 98% of the american people the bush-era tax rates for a long time to come, declare victory and move on. >>
a real deficit reduction. 70% of the american people support that. they can't even come to terms with that. they seem to have not noticed the republicans that we did have an election. the president campaigned on this question of continuing tax cuts for the middle class but raising them back to the clinton rates -- returning to the clinton rates for the top 2%. he pledged that he would veto anything but that. and he will. so until the republicans agree to those clinton-era rates, we are going to...
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. >> they urged him to pass a law to bring down deficits. the house speaker said talks are going nowhere. >> i'm willing to move forward in good faith. our framework still stands. instead of raising tax rates we can prodice similar amount of revenue, reforming the tax code to close loopholes and lower tax rates. >> the speaker said the two sides are at a stalemate. if nothing is done hundreds of millions of dollars of tax increases and cuts will take effect january 1st. >>> thousands who will out of work in the state cad loose their unemployment in four weeks unless congress reached a deal to avoid that fiscal cliff. letters have already gone out to almost 350,000 people in danger of losing their benefits. more than 2 million nationwide could loss also be affected. >>> bay area school lunch menus are changing as part of a push to get people to eat healthier food. they have been redone to meet new nutrition guidelines president the times reports students in many bay area school distributes are getting more fruits, vegetables and whole grains
. >> they urged him to pass a law to bring down deficits. the house speaker said talks are going nowhere. >> i'm willing to move forward in good faith. our framework still stands. instead of raising tax rates we can prodice similar amount of revenue, reforming the tax code to close loopholes and lower tax rates. >> the speaker said the two sides are at a stalemate. if nothing is done hundreds of millions of dollars of tax increases and cuts will take effect january 1st....
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and that the taxes that he wants to hit the rich with are not going to go to pay down the deficit. they are not going to help them. they are going to lay off 700,000 of them who won't have jobs. and the republics need to simplify the message to simply say if you think the government isn't spending enough money, then support the president. if you think that what we really need to do is stop spending away our grandchildren's future, then you better just tell the president it's time to sit down, come home to washington, stop the speeches, stop the campaigning and get serious about being president of the united states. >> governor, we are talking this morning about a school down in florida. one of probably many schools around the country that have taken down their nativity scenes. they are replacing it with a little frosty the snowman. board of education guy you are going to have problems with the church and the state the school said we don't want to have any sort of lawsuits and deal with that we will take this stuff away. rhode island, the christmas confusion there. the governor ther
and that the taxes that he wants to hit the rich with are not going to go to pay down the deficit. they are not going to help them. they are going to lay off 700,000 of them who won't have jobs. and the republics need to simplify the message to simply say if you think the government isn't spending enough money, then support the president. if you think that what we really need to do is stop spending away our grandchildren's future, then you better just tell the president it's time to sit down,...